Benefiting from the electronics peak season, Taiwanese PCB output value increased by 9.6% in the third quarter
yahoo! news
December 06, 2024
Author NOWnews Today's News Reporter Zhong Hongliang/Taipei Report
December 06, 2024
Author NOWnews Today's News Reporter Zhong Hongliang/Taipei Report
[NOWnews Today's News] The global economic recovery is slower than expected. However, according to statistics from the Taiwan Circuit Board Association (TPCA), the global output value of Taiwanese circuit boards (PCB) still grew steadily in the third quarter, with the total output value at home and abroad reaching NT$227.1 billion. , an annual increase of 9.6%, mainly benefiting from the peak season of consumer electronics, terminal market recovery, AI infrastructure, and low-orbit satellite market demand.
TPCA pointed out that the Taiwanese PCB application market in the third quarter of 2024 is mainly distributed in communications (37.0%), computers (21.8%), semiconductors (17.7%), automobiles (11.4%), consumer electronics (8.0%) and others ( 4.1%).
Among them, the growth of semiconductors is the most prominent, driven by the demand for AI chips and high-bandwidth memory HBM. The output value of communication products continues to grow due to the demand for network communication products extended by low-orbit satellites and AI servers.
Although PC market sales were lower than expected, demand for AI servers and general servers supported the growth in output value of the computer application category; the automotive industry was affected by the rapid replenishment of inventory in the previous two years, coupled with weakening demand and base period effects, growth momentum It weakens season by season.
In terms of PCB products, HDI boards are driven by demand for servers, ADAS for high-frequency applications and low-orbit satellites, and are also showing good growth. Multi-layer boards still use AI as the main growth engine and extend the network communication products required for infrastructure. Due to the upgrade of the architecture or the increase in usage, the specifications and demand for multi-layer boards have increased.
Looking forward to the fourth quarter, affected by the lower than expected sales of Apple mobile phones and high geopolitical uncertainty, the market and supply chain tend to be conservative and wait-and-see. The global output value in the fourth quarter is expected to be 209 billion yuan, a 1.2% decrease from the same period last year; The annual output value is expected to exceed 808.3 billion yuan, an increase of 5.0% over last year.
Looking to 2025, more PCB manufacturers will benefit from the improvement in AI Edge specifications; in addition, the slowdown in inflationary pressure is expected to push global consumer spending to be better than 2024. Overall, Taiwanese companies will The total output value is expected to reach 854.1 billion yuan.
After the U.S. election, the world is paying attention to the impact of Trump’s new policies on the global electronics manufacturing industry. TPCA said that although the impact of the policy is not yet clear, it is expected that the "America First" advocate will use tariff barriers to encourage manufacturing and job opportunities to return to the United States, and may take a tougher stance against China to reduce trade dependence.
Therefore, the scale and speed of overseas expansion of electronic components factories may shift from conservative to aggressive, and the EMS and component supply chain will pay more attention to US investment.
For Taiwanese PCB companies, orders are still mainly from American customers. Although the share of manufacturing in China is still more than 60%, Taiwan factories continue to invest in high-end processes. At the same time, with the opening of new production capacity in Southeast Asia in 2025, it is expected to decrease Geopolitical risks.
In summary, judging from the overall performance of Taiwanese PCB manufacturers in the first three quarters of 2024, under the complex situation of geopolitics and industry competition, although the sales growth of mainstream terminal products has slowed down, suppressing the growth of overall output value, there is still growth momentum concentrated in The small number of application products reflects that some Taiwanese manufacturers have demonstrated their strength in the high-end market.
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